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All reports tagged with: "non-performing loans"

Non-performing loans at €29 billion

Non-performing loans (NPLs) in the Cypriot banking system continued their upward trend in July reaching €28.88 billion; 47.17 per cent of the total amount of loans according to the island’s Central Bank.

Reckless banks lent millions

A report by the Cyprus Central Bank reveals how the island’s banks lent millions of Euros recklessly without having properly examined the borrowers’ ability to repay or the value of the loan collateral.

The plan

Following a vote in the Cyprus parliament to adopt the Euro, a banker, a government minister, a property developer and a lawyer meet at a restaurant and discuss the plan for the island’s future.

Construction sector worst non-payers

Half the businesses in Cyprus are failing to repay their loans, with the construction sector being the worst offender as non-performing loans reached 72 percent in June according to the Central Bank.

Pressure on non-performing loan recovery

The troika of international lenders has raised the stakes on the recovery of non-performing by increasing pressure on delinquent borrowers who refuse to service their loans despite having the ability to do so.

Moody’s: Cyprus banking sector risk ‘very high’

Moody’s Investor Services has warned about the dangers lurking in the Cyprus Banking system due to the high percentage of non-performing loans and considers the banking sector risk to be “Very High”.

The recent property boom and bust cycle

The continuous increase in property prices created a false sense of security in Cypriot banks and led to further credit expansion and a real estate “bubble” which burst resulting in a large increase in non-performing loans.

Cyprus making relatively good progress

Although Cyprus is making relatively good progress following the bailout, Troika officials have warned that the repossessions bill has to be approved by January 2015 before new aid is disbursed.

€12 billion non-performing loans restructured

Cypriot banks have restructured €12 billion of their non-performing loans as of April 2014, more than a quarter of their total loan portfolios of €44 billion, according to the Association of Cyprus Banks.

Banks need tools to pressurise delinquent borrowers

The banks need the means to pressurize obstinate and viable borrowers into servicing their loans; average borrowers and homebuyers should not be their primary targets, says Cyprus Finance Minister.

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